Transacted Prices will give you an idea of the neighbourhood’s property price trend.

Analysis & Comparison

Analysis and comparison of average transaction, for sale and for rent prices for landed, non-landed and commercial properties within Gurney Drive *

* To provide you the most accurate information some columns may appear as ‘Insufficient Data’ due to insufficient transactions in the area

Non-Landed

Landed

Commercial

Avg Transacted Price

Avg Transacted Price(Psf)

Avg For Sale Listing Price

Avg For Sale Listing Price(Psf)

Avg For Rent Listing Price

Avg For Rent Listing Price(Psf)

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Neighbourhood Review

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Gurney Drive is the gem of Penang. It is almost the first place that anyone thinks about when visiting Penang, and is definitely on the ‘must visit’ list for any tourist. This sea fronting suburb looks out over the calm seas of the Penang Island, and commands top value in the property market - whether as an investment or as a holiday home.

The name Gurney Drive is synonymous to good food to tourists. While the majority of the locals do not agree to the statement of good food, this nevertheless does not stop tourists from flocking here. Aside from the many hotels that line this street boasting of sea views, there are also popular coffee shops that open until the wee hours of the morning offering non-halal pork sandwiches and yong tau fu.

Seafood is also one of the most popular choice of food on Gurney Drive, and there are a number of bars located on the beach itself promising a romantic and breezy environment. There are also a number of massage parlours on the street, taking full advantage of the romantic environment.

The main attraction of Gurney Drive is naturally its food. But there are also a couple of shopping malls here, Plaza Gurney and the Paragon Mall. Paragon Mall is the newer of the two, and is part of a mixed development. It has most of the major franchises and retailers under its roof.

Gurney Drive which is otherwise known as Persiaran Gurney is a major road by itself, and is connected to Jalan Sultan Ahmad Shah, Jalan Kelawai and Jalan Tanjung Tokong. Gurney Drive is neighboured by Georgetown to its southeast which is only 20 minutes away, and by Tanjung Bungah to its northwest which is only 10 minutes away.

Gurney Drive is definitely not one of the suburbs that is close to the Penang Bridge which is about half an hour away, while the Penang International Airport is approximately 45 minutes away. But Gurney Drive is nevertheless still considered to be one of the upscale neighbourhoods due to its proximity to the beach, and the value of properties here are increasing year-on-year.

Consumer Price Index

This is a representation of Penang Consumer Price Index (CPI) for the year of 2011 - 2015

Did you know?

A consumer price index (CPI) measures changes in the price level of a market basket of consumer goods and services purchased by households. (Wikipedia)

The Consumer Price Index (CPI) line shows an increment in prices of essential goods on a yearly basis, while the Percentage Changes line shows the level of changes in price increments over the years. For example, a dip in the CPI line may indicate a low level of price increment as compared to the previous year while a surge in CPI line shows a high level of price increment as compared to the previous year.

The above graph shows 1.742% of price changes in essential goods such as rice, meat and tobacco between the years 2011 and 2012, while increasing in difference to 2.093% in 2013. Prices of essential goods then increasing to 3.169% in the year 2014 while surging by 2.529% in 2015.

While the prices of essential goods have shown a variation in the Percentage Changes, the Consumer Price Index (CPI) on the other hand indicates a reality of ever increasing prices in essential goods with increments between the years 2011 - 2015 at 102.7 in 2011, 105.1 in 2012, 107.3 in 2013, 110.7 in 2014, 113.5 in 2015.

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